Part B

Finally, a similar ratio analysis will be provided after the first chat for Royal Caribbean. Compare your results from Royal Caribbean with Carnival on a separate Word document. Your analysis must address at least three key ratios or trends that are similar and three that are different, as well as what those differences mean. You will not receive full credit if you discuss dollars instead of ratios, and you must interpret, not just list, your results.

Here is the file with the completed Royal Caribbean analysis:

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	2018 Vertical	Dec. 31, 2017	2017 Vertical	Trend
		a.k.a. Common Size			Horizontal
Total revenues	$ 9,493,849	100%	$ 8,777,845	100%	8%
Cruise operating expenses:
Total cruise operating expenses	5,262,207	55%	4,896,579	56%	7%
Marketing, selling and administrative expenses	1,303,144	14%	1,186,016	14%	10%
Depreciation and amortization expenses	1,033,697	11%	951,194	11%	9%
Operating Income	1,894,801	20%	1,744,056	20%	9%
Other income (expense):		0%		0%
Interest income	32,800	0%	30,101	0%	9%
Interest expense, net of interest capitalized	(333,672)	-4%	(299,982)	-3%	11%
Equity investment income	210,756	2%	156,247	2%	35%
Other income (expense)	11,107	0%	(5,289)	0%	-310%
Total other income (expense)	(79,009)	-1%	(118,923)	-1%	-34%
Net Income	1,815,792	19%	1,625,133	19%	12%
Earnings per Share:
Basic (in dollars per share)	$ 8.60		$ 7.57
Diluted (in dollars per share)	$ 8.56		$ 7.53
comparison see part A